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KEEP THIS COMPLETED FORM ON SITE FOR 3 YEARS MONTHLY FUEL REPORT / DAILY INVENTORY Month/ Year Facility & Location . :Registration Number: Tank Size and Fuel Type: Certified By: Date Opening Inventory.

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Related content

Monthly Fuel Report / Daily Inventory - Maine.gov
... Storage Tanks. 17 State House Station. Augusta ME 04333-0017 (207) 287-7688. UST-08...
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An ATG uses probes located in each tank to measure fuel and water levels. ... UST System...
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Fuel as an Operating Expense This is because fuel is often used to power vehicles or machinery that is used for business purposes. For example, if you have a company car that you use for business travel, the fuel used for this car would be considered an operating expense.

Why variances in fuel tank measurement occur Colder temperatures cause fuel to shrink. When transported through cold weather before arriving at a station will appear to have less fuel than when it left. ... Warm temperatures cause excessive evaporation. Likewise, a transport in warm weather may expand volume on the way.

Crude oil stockpiles, also known as inventory, are reserves of unrefined petroleum measured in numbers of barrels. Oil producers and governments use crude stockpiles to smooth out the impact of changes in supply and demand.

For accounting purposes, gasoline inventories are maintained using Cost Accounting Method—a method by which a business can maintain and account for the value of its inventory. With this method, inventory is kept at its direct cost.

What is Fuel Variance? A fuel variance is the difference between the amount of fuel available in a tank at any given time, ing to recorded deliveries and sales, and the actual amount of fuel available in the tank.

What is Inventory Variance? Simply put, inventory variance is the amount of product sold vs. the amount of product used over a set period of time. Ideally, these numbers should be the same, but working behind a bar is unpredictable—a small amount of variance is to be expected.

Fuel Inventory means all gasoline, diesel fuel, kerosene and other petroleum based motor fuels stored in bulk and held for sale to the public at the Station Properties.

While the ideal discrepancy percentage varies by size and industry, with some companies aiming for below 1%, this figure should never exceed the 10% mark as this could result in serious financial consequences.

Subtracting the inventory usage from the COGS gives you your variance in dollars. Percent variance is the variance in dollars divided by inventory usage in dollars multiplied by 100.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232